3M Company $MMM Shares Purchased by Tidal Investments LLC

Tidal Investments LLC lifted its stake in 3M Company (NYSE:MMM) by 14.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,314 shares of the conglomerate’s stock after buying an additional 8,865 shares during the period. Tidal Investments LLC’s holdings in 3M were worth $11,708,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. MCF Advisors LLC increased its holdings in shares of 3M by 69.0% in the 2nd quarter. MCF Advisors LLC now owns 11,870 shares of the conglomerate’s stock valued at $1,922,000 after acquiring an additional 4,845 shares during the period. National Pension Service grew its position in 3M by 3.6% during the 2nd quarter. National Pension Service now owns 1,401,543 shares of the conglomerate’s stock worth $226,924,000 after purchasing an additional 48,167 shares during the last quarter. WINTON GROUP Ltd purchased a new position in 3M during the 2nd quarter worth $4,572,000. Engineers Gate Manager LP increased its stake in 3M by 74.0% in the second quarter. Engineers Gate Manager LP now owns 287,652 shares of the conglomerate’s stock valued at $46,574,000 after purchasing an additional 122,368 shares during the period. Finally, Cidel Asset Management Inc. increased its stake in 3M by 3.4% in the second quarter. Cidel Asset Management Inc. now owns 4,488 shares of the conglomerate’s stock valued at $727,000 after purchasing an additional 149 shares during the period. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Stock Performance

NYSE MMM opened at $164.83 on Friday. The business has a 50 day moving average price of $172.02 and a 200 day moving average price of $159.30. The company has a market capitalization of $85.00 billion, a P/E ratio of 29.28, a PEG ratio of 2.14 and a beta of 1.01. 3M Company has a 1-year low of $139.34 and a 1-year high of $184.90. The company has a debt-to-equity ratio of 3.63, a current ratio of 1.24 and a quick ratio of 0.91.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, July 21st. The conglomerate reported $2.40 EPS for the quarter, beating the consensus estimate of $2.25 by $0.15. The business had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.40 billion. 3M had a net margin of 11.90% and a return on equity of 115.87%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.16 earnings per share. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. Sell-side analysts expect that 3M Company will post 8.96 EPS for the current fiscal year.

3M Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Monday, August 24th were given a $0.78 dividend. The ex-dividend date of this dividend was Monday, August 24th. This represents a $3.12 annualized dividend and a dividend yield of 1.9%. 3M’s dividend payout ratio (DPR) is currently 55.42%.

Insider Transactions at 3M

In other 3M news, insider Karin Chavez sold 3,635 shares of 3M stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $182.51, for a total value of $663,423.85. Following the transaction, the insider owned 14,035 shares in the company, valued at $2,561,527.85. This trade represents a 20.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

MMM has been the subject of several analyst reports. Royal Bank Of Canada upped their price objective on 3M from $123.00 to $132.00 and gave the company an “underperform” rating in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. raised 3M from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $178.00 to $180.00 in a report on Friday, July 17th. Citigroup upped their price target on 3M from $166.00 to $183.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Wolfe Research reiterated an “outperform” rating on shares of 3M in a research report on Thursday, July 9th. Finally, Jefferies Financial Group boosted their price objective on shares of 3M from $170.00 to $175.00 and gave the company a “hold” rating in a research note on Monday, June 29th. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $177.21.

3M Company Profile

3M Company is a diversified technology and manufacturing company headquartered in St. Paul, Minnesota. Founded in 1902 as Minnesota Mining and Manufacturing Company, it initially supplied abrasives and other materials before expanding into a broad range of science-based products and technologies.

The company develops products for industrial, transportation, electronics, safety and consumer markets. Its offerings include personal protective equipment, industrial adhesives and tapes, abrasives, filtration products, electrical materials, automotive solutions, medical and dental products, and consumer brands such as Post-it Notes and Scotch products.